Why Broadcom Stock Surged This Week
Shares of (NASDAQ: AVGO) were up this week following a deal between the semiconductor giant and OpenAI to deploy a large quantity of custom artificial intelligence (AI) accelerators over a multiyear time frame. As of early Thursday afternoon, Broadcom stock was up about 8.6% for the week, according to data provided by S&P Global Market Intelligence.
Image source: Getty Images.
On Monday, Broadcom and OpenAI announced a partnership that will see OpenAI design custom AI accelerators that will be developed and deployed in conjunction with Broadcom. Connectivity between server racks will be handled by Ethernet and other connectivity solutions from Broadcom.
Source Fool.com
Broadcom Ltd. Stock
€271.30
-3.380%
With 92 Buy predictions and 2 Sell predictions Broadcom Ltd. is one of the favorites of our community.
With a target price of 306 € there is a slightly positive potential of 12.79% for Broadcom Ltd. compared to the current price of 271.3 €.
